(NYSE: SNAP) stock is suffering big sell-offs on the heels of the company's latest earnings report. The social media specialist's share price was down 18.4% as of 11:45 a.m. ET amid the backdrop of a 0.6% gain for the S 500 (SNPINDEX: ^GSPC) and a 0.7% gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC).

Snap released its second-quarter report after the market closed yesterday, and investors are selling the stock in response to details contained in the business update. While revenue for the period met Wall Street's forecast, earnings were below expectations -- and there are indications that the business is now facing a weaker-than-expected outlook.

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Source Fool.com